Foodservice sales declined 36% over the past 12 months end February 2021 - but we may have reached a turning point.
While the COVID pandemic has ravaged many industries and individuals, few can argue the visible impact it has had on the foodservice industry. Having said this, we know how resilient, entrepreneurial, and adaptive the foodservice industry is, and many have clearly stepped up to the challenge to survive. The reality is some channels and operators have fared better than others, while many have altogether folded.
Canadians interaction with what they eat and drink continues to change and evolve, particularly as we retreat into our homes. In this highly homebound environment, marketplace attitudes are shifting. This is also clearly impacting the dynamics within the foodservice industry. We are already seeing a very different foodservice landscape to what existed a year ago. As we emerge from this crisis, it remains important to keep your fingers on the pulse of current consumer sentiment so you can stay ahead of the curve to re-ignite growth rather than merely waiting and reacting to them.
Join Ipsos for a complimentary webinar to understand the full impact of the pandemic on the industry, in addition to comparing the Canadian foodservice performance to several countries including the U.S. We will share data from the 6th edition of our annual Vantage Foodservice outlook report, and cover trends which are expected to "stick" in the short and long term.
Asad Amin, Vice President, Canada, Marketing Strategy & Understanding-Research